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Individual Income Tax Data PART 14· INDIVIDUAL INCOME TAX DATA PREPARED BY THE STAFFS OF THE TREASURY AND THE JOINT COMMIT'rEE ON INTERNAL REVENUE TAXATION APRIL 1951 UNITED STATES GOVERNMENT PRINTING OFFICE 81736 WASHINGTON: 1951 TABLE 1.- Individual income taxes of the United States, 1913 to 1950 RATES, EXEMPTIONS, AND CREDITS Revenue Act Revenue Act Description Taxes in effect Act of Oct. of 1916 (Sept. I Act of Mar. I Rovonu,of 1917 (Oct. Ad of 1918 (Feb. Revenue Act Revenue Act Revenue Act Dec. 31, 1913 22, 1914 8, 1916) . 3,1917 3,1917) 24,1919) of 1921 of 1924 of1926 ------- Personal exemptions: Married or bead of family $4,000 ___ __ ___ ___ No cbange __ No cbange 1_____ No change __ $2,000 ________ _ No cbange ______ $2,500 2 __________ $2,500 ___________ $3,500. Single ________________________________ _ $3,000_ -- -------- No cbange __ No cbange ______ No cbange __ $1,000 _________ No change _____ _ No cbange ______ No cbange ______ $1,500. $200 ___________ $40L ___________ Credit for dependents __________________ ___ -- -------------- ------------------ -------------- No change ______ No cbange ______ No cbange. Normal tax rate: 2% ______________ 1st $2,000 of net income in excpss of 1% _-_____________ No cbange __ 2% ______________ No cbange __ No cbange ____ 6%3 _____________ 4% 4_____________ lYz%. certain credits. 2d $2,000 of net income in excess of 1% ______________ No cbange __ 2% ______________ No change ___ 4% ____________ 6%3 ________ ___ __ 4%4 _____________ 2% __ ___ _________ lYz%. certain credits. 1% ______________ Next $4,000 of net income in excess of No cbange __ 2% ______________ No change __ 4% ____________ 12% 3___________ _ 8% 4 _______ ~----- 4% ______________ *3%. certain credits. Over $8,000 of net income in excess of 1% ______________ No cbange __ 2% ______________ No cbange __ 4% ____________ 12% 3____________ 8%4 _____________ 6% ______________ 5%. certain credits. Surtax: Minimum rate _______________________ _ 1% ______________ No cbange __ No cbange ______ No cbange __ No cbange ____ No cbange ______ No cbange 4 0____ 1% ______________ No cbange. Maximum rate _______________________ _ 6% ______________ No change __ 13% _____________ No cbange __ 63% _____ ______ 65% _____________ 50%4 0__________ 40% _____________ 20%. Minimum rate applies to portion of $20,000-$50,000_ . No cbange __ $20,000-$40,000 ___ No cbange __ $5,000--$7,500 ___ $5,000--$6,000 _____ $6,000-$10,000 °__ $10,000-$14,000 ___ No change. surtax net income. Maximum rate applies to portion of Over $500,000 ____ No cbange __ Over $2,000,000 __ No change __ ' No change ____ Ov~r $1,000,000 __ Over $200,000 s__ Over $500,000 ____ Over $100,000. surtax net income. Dividends _______________________________ _ Exempt from No change __ No cbange ______ No change __ No cbange ____ No cbange ______ No change ______ No cbange ______ No change. normal tax. Earned income credit 8 ____________ -- -- _ -- -1- _____ _ -- ------------------ ------------------ 25% of normal 25% of total tax tax on earned on earned net llPt income. income. See footnotes at end of table. ~ TABLE 1.-Individual income taxes of the United States, 1913 to 1950- Continued ~ Revenue Act of- Description 1928 1932 1934 1935 1936 1937 1938 1939 1940 Personal exemptions: Married or head offamily _____ _______ _ $3,500 ___________ $2,500 ___________ No change ______ ____ No change _____ _ No change ______ No change __ No change __ No change __ $2,000. Single ___________ ___ ______ ------------- $1,500 ___________ $1,000 ___________ No change __________ No change ______ No change ______ No change __ No change __ No change __ $800. Credit for dependents ____________________ _ $40L ___________ No change ______ No change __________ No change ______ No change ______ No change __ No change __ No change __ No change. Normal tax rate: 1st $4,000 of net income in excess of cer­ 1%% 7___________ 4% ______________ No change __________ No change ______ No change ______ No change __ No change __ No change 8_ No change.9 tain credits. 4% __________________ 2d $4,000 of net income in excess of cer­ 3% 7_____________ 8% ______________ No change ______ No change ______ No change __ No change __ No change 8_ No change.9 tain credits. Over $8,000 of net income in excess of 5% 7_____________ 8% ______________ 4% __________________ No change ______ No change ______ No change __ No change __ No change 8_ No change.o certain credits. Surtax: Minimum rate _______________________ _ 1% ______________ No change ______ 4% __________________ No change ______ No change ______ No change __ No change __ No change 8_ No change.9 10 Maximum rate _______________________ _ 20% _____________ 55% _____________ 59% _____________ ____ 75% ____________ _ No change ______ No change __ No change __ No change 8_ No change.9lO z Minimum rate applies to portion of $10,000-$14,000 ___ $6,000-$10,000 ____ No change ______ No change ______ No change __ No change __ No change 8_ No change. t;j $~6e -------- ~ surtax net income. H Maximum rate applies to portion of Over $100,000 ____ Over $1,000,000 __ No change __________ Over $5,000,000 __ No change ______ No change __ No change __ No change 8_ No change. t::;j surtax net income. ~ Dividends 11 ______________________________ 1 Exempt from Nochange ______ 1 Nochange __________ 1 Nochange ______ 1 Not exempt I No change __ 1 No change __ 1 No change_-I No change. t"l normal tax. from normal tax. z Earned income credit 6 ____________________ 1 25% of total tax None ___________ -' 10% of amount of 1 No change ______ 1 No change ___ ~_.1 No change_-I No change_-I No change_-I No change. oC".l on earned net earned net income ~ income. but not in excess t:rj of 10% of amount of net income to be credited against ~ net income for nor- t::1 mal tax. ~ Revenue Act of- Description 1941 1942 1943 12 1944 13 1945 1948 51 Personal exemptions: Married or head offamily 14 ________________________________ $1,500 _________ $1,200 _____________ No change 15 ______ $1,00016 _________ $1,000 17 _______________ $1,200 18 __________ _ Cre:i~:~;de-;;~d-;~t;--~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~-~h~~;;~~~~ ~~~~ t~~~~~~~~~~~~~ ~~ ~::~~: ::~~~~~~ ~~~ ::-I;~~~~~~~~~~ ~~~ :~~~~~~~~~~~~~~~~~~ ~ ~~~~~~~~~~~~~~~~~~~ Additional exemptions: 20 For persons 65 years of age or over__________________________________________________________________________________________________________________________ ~_ 600 ________________ No change. NO!~ t!: b;=~~~~ii~--t~-~;t-~~~~;-~-~~~~~~-~f-~~~t~~- -4%~~~~~~~~~~~~ -6%~~~~~:~~~~~~~~~~ -N~-~h~~;;~;--~~~~~ -3%~~~~~~~~~~~~~~ -T;~t~ti~;-;;t-e=3%---~~ ~~-~h~~;;~~~~~~~~ ~~.~hange/ credits. SurtMinimumax: rate _____________________________________________ 6% ____________ 13% _______________ No change 16 ______ 20% _____________ Tentative rate-17% __ No cbange ________ 17%.22 ~ Maximum rate _____________________________________________ 77% ___________ 82% _______________ No change 16 ______ 91% 23 ____________ Tentative rate-88%23_ No change 14 ______ 88%.2223 fj! Minimum rate applies to portion of surtax net income ______ 0-$2,000 _______ No change ________ No change 15 ______ 0-$2,000 _________ No changc __ __________ No change ________ No change. q 110 . Maximum rate applies to portion of surtax net income ______ No change_ ___ Over $200,000 ______ No change 16_ _____ Over $200,000 ____ No change ____________ No change ________ No change Reductions from combined tentative normal tax and surtax: First $400 _______ -----------------_-- ___ -------_.----- ---- ___ 1__ --------------1--- -- ------------- --1- -- ------------- ----1- -----------------1 5% __ _________ --- ______ 117% __ --.------ ____ I (22). Next $99,600 __ ---- __ ----- _-- _-- ---_-- --_-- __ ----- ___________ 1___ -- --- --------1--------------------1--- -------- -- --- ----1-------- ----------I 5% __ __________________ 12% _______________ (22). Over $100,00o ___ -- ___ -- _---------- ----'-----___ ---------- ____ 1_ ---------------1--------------------1-------------- ------1- ----- --- - -- --- ---I 5% ____ ______ __________ 9.75% _____________ (22). Victory tax __ --_________ --_-- _________________________ -- ___ --___ 1_ -- - - --- - --- ----I 5% of Victory tax 3% of Victory tax Repealed. net income in net income in excess of $624, excess of $624,16 less certain credits.24 Dividen~s----------:-;-------------------------------- _________ 1 No change ____ 1 No change ________ 1 No Change ____ ~ ___ r No chaIigll ______ 1 No change ____________ 1 No change ________ 1 No change. Earned-mcome credIt _________________________________________ No change ____ No change ________ Repealed. I Under the Revenue Act of 1916 and subsequent acts the personal exemption allowed to married such tax by taxpayers not made substantially current in their payments through withholding. persons was also allowed to heads of families. To provide [or transition to current payments, the act in general canceled 75% of either the 1942 2 For individuals with net income in excess of $5,000 thc personal exemption is $2,000. or 1943 tax, whichever was the lesser. 3 For the calendar years 1919 and 1920 the normal tax rates were 4% on the first $4,000 of normal 13 Individual Income Tax Act of 1944. tax net income and 8% on the balance of such net income over $4,000. 14 Subsequent to the act of Oct. 22, 1914, and prior to the Individual Income Tax Act of 1944, the 4 Tax for 1923 reduced 25% by credit or refund under section 1200 (a), Revenue Act of 1924. personal exemption allowed to married persons was also allowed to heads of families. Ii For calendar years 1922 and 1923. 16 The changes in individual income-tax exemptions and rates made by the Revenue Act of 1943, 6 Undcr the acts of 1924 to 1928 the credit was against tax; under the act of 1932 no credit was intended to be applicable to the taxable year 1944, were superseded by the provisions of the Z allowed for the years 1932 and 1933; and under the 1934 and subsequent acts the credit is against Individual Income Tax Act of 1944 before they became effective.
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